08:33 AM EST, 02/14/2025 (MT Newswires) -- Pulse Seismic ( PLSDF ) , a player in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector, overnight Thursday reported lower earnings and revenue in the fourth quarter.

Net earnings for the three months ended Dec. 31, fell to $774,000, $0.02 on a per share basic and diluted basis, compared with $8.3 million or $0.16 on a per share basic and diluted basis in the prior year period.

Total revenue decreased to $5.6 million in the quarter compared with $16.9 million, a year earlier.

The company approved a quarterly dividend of $0.015 per share, unchanged from the prior quarter, and additionally declared a special dividend of $0.20 per share.

"We remain focused on returning capital to shareholders, as deemed appropriate given the annual fluctuations inherent in our business," said Pulse Chief Executive Neal Coleman.

The company added that in November the Canadian Association of Energy Contractors forecast that 6,604 wells will be drilled in 2025, about a 7% increase over 2024. The pending completion of LNG Canada's liquified natural gas export facility is expected to contribute to the forecast increase in drilling and may lead to an improvement in Canadian natural gas prices.

"The impacts of the recent change in administration in the United States and the uncertainty around energy tariffs and trade policy, together with Canadian federal government leadership changes are contributing to the lack of clarity for the future," the company said in a statement.

Shares of the company closed down $0.040 or 1.6%, to $2.50 on Thursday on the TSX.